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The GBPUSD pair is changing the direction of the trend

  • Jul 28 2021
  • by
  • Analyst AZA
The GBPUSD pair is changing the direction of the trend

The GBPUSD pair is changing the direction of the trend

The British pound has appreciated significantly in recent days against many currencies. On the 4 hour chart, you can see that the price crossed the 200 moving average and created the first fractal. The high of this fractal coincides with the strong resistance level of 1.3900. Therefore, we will open a position if the price can break through this level soon. Our goal is only 40 pips to the nearest resistance level of 1.3940, but the Take Profit order can be moved higher to the level of 1.3940 where the price will be strongly rebuffed.

Symbol: GBPUSD
Order Type: Pending Order - Buy Stop
Entry Price at 1.3900
Take Profit at 1.3940
Pips Earning: 40

The result of a trade recommendation. The price reached the Take Profit level the next day.

The price reached the Take Profit level the next day.

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The profit can be $400.00 if the trading volume of 100000 GBP (1 Lot).

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